AI finance startup Flex raises $60 million Series B to serve mid-sized ‘jumbo shrimp’ businesses

Summary

U.S.-based AI startup Flex has raised a $60 million Series B round led by Portage Ventures, valuing the company at around $500 million and bringing its total equity funding to $105 million. Flex uses AI to bundle private credit, business and personal finance, and payment tools for mid-sized ‘jumbo shrimp’ businesses that often lack large finance teams, and will use the new capital to accelerate product development, launch a high-end Flex Elite card and expand its roughly 80-person team.